We will be conducting a macro analysis between the three competitors UTK, COTI, and REQ while analyzing their technical status and comparing all three together in the end.
UTK/USDT has been moving quite strongly recently. They are bringing out new partnerships every week, and the price shows very clearly. The vast pumps are powerful and good reactions to the price movements and key-levels.
As mentioned above, UTK has just finished one of its strong moves to the upside and is currently retracing into its uptrend support. While the pump punctured the previous key level of resistance, it still got rejected there and failed. It is in between the key-are and the uptrend support, moving in a very slow and illiquid manor, which is prone to bullish divergences and possible breakouts.
Furthermore, the current retrace volume is low and insignificant, which once again supports the idea of a retrace and not of a newly emerging trend.
Looking at technical indicators, the MKAST Algorithm is showing a Sell-Condition, which could turn bullish anytime UTK sees a strong candle to the upside.
The MKAST Index is currently at 2/15 points, which is relatively low and could be indicating an upcoming reversal.
An experienced trader would be looking for entries as close as possible to the uptrend support line.
COTI/USDT has been going sideways and consolidating for quite a while now after the drop and sell off August. Currently, one can identify a wedge, which is is a structure for continuation or reversal.
Signs of reversal are there and showing in terms of the volume domination, which indicates a low selling interest by COTI holders. When we look at MKAST Algorithm, the sell-condition has been going on for quite a while and could be reversing anytime soon, especially since the price is trading above the MKAST LenLen Ribbon and causing it to act as a form of support.
All in all, a breakout and strong candle to the upside are needed to have a strong reversal and the upside potential.
Last but not least, we analyze the technical status of REQ/USD, which is currently lacking and under-delivering to its investors and traders price-wise.
REQ has been in a quite steep and robust downtrend, which has little expectation of ending soon. The market structure is a weak falling wedge without structural integrity. Such would be given if the volume inside the rather bullish structure (falling wedge) would be bullish as well. Yet, even in this bullish structure, the volume indicated significant selling and little to none buying.
Looking at the MKAST-Index, one can see it crossing down the ALMA, a bearish sign, and contributing against a bullish narrative.
The only positive fact here is that the price is slowly starting to trade above the MKAST LenLen Ribbon, which could act as a form of support.
The leader and most promising one is surely UTK/USDT, which has been going up, pumping, and retracing. High volatility ensures traders with many opportunities and possibilities to enter and make profits. The retraces are not feared but appreciated on UTK.
Following UTK is COTI with a high potential of a strong reversal and upwards momentum once it breaks out. This is a trade that can go in either direction, yet the indicators and analysis suggest to support the bullishness rather.
Finally, REQ which is currently struggling and looking opposite to its two competitors. The dip “keeps on dipping” and has so far just a slight chance of reversal. This is risky, and an experienced trader would look for entries on more promising pairs or whenever the bullish case is more favorable for REQ.
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